Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab?]]>http://www.autoblog.com/2009/12/06/reuters-chinas-baic-secures-2-1b-line-of-credit-is-it-for/http://www.autoblog.com/2009/12/06/reuters-chinas-baic-secures-2-1b-line-of-credit-is-it-for/http://www.autoblog.com/2009/12/06/reuters-chinas-baic-secures-2-1b-line-of-credit-is-it-for/#commentsFiled under: , , , ,



Beijing Automotive Industry Corporation (BAIC) could still be in the game for Saab, having secured a $2.93 billion line of credit from the Bank of China. On the other hand, BAIC could just be gearing up for its own home-grown expansion plans, with an eye on ramping up production and putting financial and technological legs underneath its partnerships with Mercedes and Hyundai.

Or... it could be doing both: trying to buy Saab and as well as remodel its business. The deal for Saab between GM and Koenigsegg was for about $1 billion: the European Investment Bank approved a loan for $615 million, and BAIC provided about $400 million by buying a minority stake in the Koenigsegg Group. If BAIC did its own deal with GM for that same amount -- although we have a feeling they could get a Christmas discount -- that would leave nearly $2 billion for BAIC to take care of Saab and invest in its own operations.

This is, of course, pure speculation -- BAIC could have something else in mind entirely. All we know right now is that they've got a lotta yuan just sitting around waiting to be spent, and aborted plans to build the new 9-5 in China. This Saab story isn't finished yet...

[Source: Reuters]

REUTERS: China's BAIC secures $2.1B line of credit... is it for Saab? originally appeared on Autoblog on Sun, 06 Dec 2009 12:37:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>baicBeijing Automotive Industry CorpBeijingAutomotiveIndustryCorpchinafinancialsgeneral motorsGeneralMotorsgmkoenigseggsaabSun, 06 Dec 2009 12:37:00 EST<![CDATA[REPORT: GM could sell some Saab assets to Chinese; brand has through year's end to find buyer]]>http://www.autoblog.com/2009/12/01/report-gm-could-sell-some-saab-assets-to-chinese-automaker/http://www.autoblog.com/2009/12/01/report-gm-could-sell-some-saab-assets-to-chinese-automaker/http://www.autoblog.com/2009/12/01/report-gm-could-sell-some-saab-assets-to-chinese-automaker/#commentsFiled under: , , , ,



General Motors' Saab brand has been given a one month stay of execution as the Detroit, MI-based automaker has announced that it will hold off on a decision regarding the brand's fate until the end of the year. GM's apparent non-decision comes just one week after it announced that Swedish specialty car maker Koenigsegg unexpectedly pulled out of the running for Saab.

While GM isn't commenting on any potential suitors at this time due to non-disclosure agreements with the parties involved, speculation is that Beijing Automotive Industry Holding Co. and Wyoming-based Merbanco Inc are in the running for the struggling Swedish automaker. BAIC appears to make some sense considering the Chinese automaker's desire to enter the U.S. market and the fact that it was also involved in a bid to purchase Opel from GM earlier in the fall.

Beijing Auto was also reportedly involved in the original Koenigsegg deal, which fell apart for reasons we may never know. GM said in a brief statement (available after the jump) that if no deals materialized by the end of the year, it expects to begin an orderly wind down of the global Saab business at that time."

[Sources: The Detroit News; General Motors | Image: Torsten Silz/AFP/Getty Images]

Continue reading REPORT: GM could sell some Saab assets to Chinese; brand has through year's end to find buyer

REPORT: GM could sell some Saab assets to Chinese; brand has through year's end to find buyer originally appeared on Autoblog on Tue, 01 Dec 2009 19:26:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>beijing automotiveBeijingAutomotivegmkoenigseggsaabsaab saleSaabSaleTue, 01 Dec 2009 19:26:00 EST<![CDATA[Saab, Swedish gov't in Detroit to discuss brand's future]]>http://www.autoblog.com/2009/11/30/saab-swedish-govt-in-detroit-to-discuss-brands-future/http://www.autoblog.com/2009/11/30/saab-swedish-govt-in-detroit-to-discuss-brands-future/http://www.autoblog.com/2009/11/30/saab-swedish-govt-in-detroit-to-discuss-brands-future/#commentsFiled under: ,

Don't write off Saab just yet. While last week's announcement that Koenigsegg Automotive AB had pulled its offer for the homeless brand was a painful kick to the gut, it seems there are still a few companies interested in taking the automaker under its wings. With that in mind, and interested in keeping the momentum, Saab CEO Jan Ake Jonsson and government officials from Sweden are meeting in Detroit today ahead of a Tuesday GM board meeting to determine Saab's fate.

As we've reported, other bidders have expressed interest in Saab and the list appears to have grown. These companies include Beijing Automotive Industry Holding Corp., U.S. investment company Merbanco Inc., and the U.S. private equity firm Renco Group Inc. You may recall that it was Beijing Auto who had partnered with Koenigsegg in the latest deal that fell off the table. Said Beijing Auto's general manager Wang Dazong, "stay tuned a little bit." Yes, we all are. Patiently.

[Source: Automotive News, sub. req'd]

Saab, Swedish gov't in Detroit to discuss brand's future originally appeared on Autoblog on Mon, 30 Nov 2009 15:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Beijing AutoBeijingAutoJan Ake JonssonJanAkeJonssonkoenigseggKoenigsegg CCRkoenigsegg saabKoenigseggCcrKoenigseggSaabMerbanco Inc.MerbancoInc.Renco GroupRencoGroupSaabSaab fateSaab SaleSaabFateSaabSaleWang DazongWangDazongMon, 30 Nov 2009 15:32:00 EST<![CDATA[REPORT: Saab still has at least two interested parties - BAIC and Merbanco]]>http://www.autoblog.com/2009/11/28/report-saab-still-has-at-least-two-interested-parties-baic-an/http://www.autoblog.com/2009/11/28/report-saab-still-has-at-least-two-interested-parties-baic-an/http://www.autoblog.com/2009/11/28/report-saab-still-has-at-least-two-interested-parties-baic-an/#commentsFiled under: , , ,

2010 Saab 9-5 - Click above for high-res image gallery

When Koenigsegg pulled out of its agreement with General Motors to purchase Saab, many thought that General Motors would dump the Swedish automaker much like it did the Saturn brand. But it appears that The General is still willing to look for another interested party, and speculation is that two perspective buyers are at the front of the line. The Swedish press is reporting that China's Beijing Automotive (BAIC) and Wyoming-based merchant bank Merbanco have shown renewed interest in perennially cash-poor Saab.

Saab spokeswoman Gunilla Gustavs reportedly told Automotive News that there were 27 suitors interested in the Swedish automaker prior to Koenigsegg becoming the preferred bidder and confirmed that there are now other bidders interested. "We have a close dialog and close contact with several who have expressed interest in buying Saab Automobile," Gustavs says.

if another bidder does win the opportunity to purchase Saab, they'll inherit an automaker that expects to lose $427 million in 2009 and a similar amount of cash in 2010. That buyer will also run into plenty of resistance when trying to get its hands on GM's technology assets. One issue that reportedly derailed the Koenigsegg bid was GM's reluctance to share its tech for new products like the new Saab 9-5. On the upside, the aforementioned 9-5 sedan has just begun serial production, the 9-3X allweatherwagon is ready to go, and the 9-4X looks to be just around the bend, too.

Earlier in the week, GM released a statement stating that it would "take the next several days to assess the situation and will advise on the next steps next week." Thanks for the tips, everyone!


Gallery: 2010 Saab 9-5


[Sources: Autocar; Automotive News; Auto Motor und Sport]

REPORT: Saab still has at least two interested parties - BAIC and Merbanco originally appeared on Autoblog on Sat, 28 Nov 2009 09:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>beijing automotiveBeijingAutomotivekoenigseggsaab saleSaabSaleSat, 28 Nov 2009 09:40:00 EST<![CDATA[BREAKING: Koenigsegg backs out of Saab purchase, brand future up in the air]]>http://www.autoblog.com/2009/11/24/breaking-koenigsegg-backs-out-of-saab-purchase-brand-future-up/http://www.autoblog.com/2009/11/24/breaking-koenigsegg-backs-out-of-saab-purchase-brand-future-up/http://www.autoblog.com/2009/11/24/breaking-koenigsegg-backs-out-of-saab-purchase-brand-future-up/#commentsFiled under: , , ,

2010 Saab 9-5 - Click above for high-res image gallery

After riding in on a white horse, Koenigsegg Group AB has pulled out of negotiations to buy Saab from General Motors, leaving the Swedish automaker's future very much in doubt. In a brief statement issued by GM (available after the jump), president and CEO Fritz Henderson says that the company is "very disappointed with the decision to pull out of the Saab purchase."

It is unclear what will happen to the brand now, but if Saab fans can hold on to any hope, GM says it will "take the next several days to assess the situation and will advise on the next steps next week." It is worth noting that this is different from the brief announcement that GM issued when Roger Penske's group pulled out from buying Saturn - GM immediately announced that they would begin "winding down" the brand. There was at least one other serious bidder interested in purchasing Saab previous to Koenigsegg becoming the preferred purchaser, but it isn't immediately clear if they are still interested, or if their financial backing checked out to begin with.

We suspect that even if Saab is unable to survive as a brand, someone will step in and purchase the assets to the already tooled-up forthcoming 9-5 sedan - perhaps the Chinese - and potentially the newish 9-3/9-3X as well.


Gallery: 2010 Saab 9-5


[Source: General Motors]

Continue reading BREAKING: Koenigsegg backs out of Saab purchase, brand future up in the air

BREAKING: Koenigsegg backs out of Saab purchase, brand future up in the air originally appeared on Autoblog on Tue, 24 Nov 2009 11:27:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>9-5breakingFritz HendersonFritzHendersonGeneral MotorsGeneralMotorsKoenigseggSaabSaab 9-5Saab9-5Tue, 24 Nov 2009 11:27:00 EST<![CDATA[REPORT: Saab dealers 'running out of cars']]>http://www.autoblog.com/2009/11/17/report-saab-dealers-running-out-of-cars/http://www.autoblog.com/2009/11/17/report-saab-dealers-running-out-of-cars/http://www.autoblog.com/2009/11/17/report-saab-dealers-running-out-of-cars/#commentsFiled under: , , ,


2010 Saab 9-5 - Click above for high-res image gallery

With new vehicle production at a trickle, and its dealer network slashed by a third, retailers of the Saab brand are finding inventory shrinking to drought levels. Some of the remaining dealers may even run out of new vehicles before replacements arrive.

Point the blame towards the pending sale of Saab to Koenigsegg Automotive AB, and the fact that an all-new Saab 9-5 model is still sitting on the horizon. With the transaction still not complete, financial limitations have kept new vehicle production low. In addition, the Swedish assembly plant tasked to build the new 9-5 sedan is in the process of retooling. "When we close the deal and change owners we can start producing again for real as we then will have financing," Eric Geers, a Saab spokesman told Bloomberg.

Even if the deal with Koenigsegg closes as planned, the 2010 Saab 9-5 (the company's first all-new car in seven years) won't hit European showrooms until early next year. U.S. dealers will likely have to wait even longer, starving as the last of their dwindling inventory rolls away.


Gallery: 2010 Saab 9-5


[Source: Bloomberg]

REPORT: Saab dealers 'running out of cars' originally appeared on Autoblog on Tue, 17 Nov 2009 10:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2010 Saab2010 saab 9-52010Saab2010Saab9-59-5dealer networkDealerNetworkdealersinventorykoenigseggkoenigsegg saabKoenigseggSaabpendingplant closurePlantClosureProductionretoolingSaab 9-5Saab9-5saleSwedishTue, 17 Nov 2009 10:28:00 EST<![CDATA[Koenigsegg reportedly rejects 81 out of 218 U.S. Saab dealers]]>http://www.autoblog.com/2009/11/13/koenigsegg-reportedly-rejects-81-out-of-218-u-s-saab-dealers/http://www.autoblog.com/2009/11/13/koenigsegg-reportedly-rejects-81-out-of-218-u-s-saab-dealers/http://www.autoblog.com/2009/11/13/koenigsegg-reportedly-rejects-81-out-of-218-u-s-saab-dealers/#commentsFiled under: , ,

2010 Saab 9-5 - Click above for high-res image gallery

According to Automotive News, Federal Express letters arrived at 81 of Saab's 218 dealers on Thursday stating that their franchises had not been selected to move forward and become a dealer for the post-sale entity, Saab Cars North America. The package from General Motors said that Swedish supercar maker Koenigsegg, Saab's buyer, had selected only certain stores based on its business plan requiring strong, well-located dealers showing profits and high volume.

All Saab dealers signed termination agreements in June when GM entered bankruptcy. The dealers who received reject letters today will follow the terms of those agreements. Meanwhile, the remaining 137 U.S. Saab dealers will have to wait patiently until the end of November when the sale is scheduled to close (although those close to the deal say it may take longer). Current Saab dealer contracts with GM will not expire until October 2010, at which point the remaining dealers will sign new franchise agreements with Saab Cars North America.


Gallery: 2010 Saab 9-5


[Source: Automotive News, subs. req'd]

Koenigsegg reportedly rejects 81 out of 218 U.S. Saab dealers originally appeared on Autoblog on Fri, 13 Nov 2009 14:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2010 saab 9-3X2010 saab 9-52010 saab 952010Saab9-3x2010Saab9-52010Saab95BankruptcyDealersGeneral MotorsGeneralMotorsgm saleGmSaleKoenigseggRetailersSaabSaleFri, 13 Nov 2009 14:28:00 EST<![CDATA[REPORT: BAIC/Koenigsegg may produce Saab 9-5 in China]]>http://www.autoblog.com/2009/11/07/report-baic-koenigsegg-may-produce-saab-9-5-in-china/http://www.autoblog.com/2009/11/07/report-baic-koenigsegg-may-produce-saab-9-5-in-china/http://www.autoblog.com/2009/11/07/report-baic-koenigsegg-may-produce-saab-9-5-in-china/#commentsFiled under: , , ,



Beijing Automotive Industry Holding Co. (BAIC), announced as a minority partner in Koenigsegg's deal to purchase Saab from General Motors two months ago, plans to produce the Saab 9-5 on Chinese soil next year. The involvement of BAIC in the Saab transaction helps Koenigsegg close the deal and gives the Chinese company leverage to re-badge the previous-generation Saab 9-5 as its own or to simply expand the brand's existing reach within the country.

In September, Saab CEO Jan-Ake Jonsson told reporters he wanted to double the number of Chinese Saab dealers from 15 to 30, and that he had an interest in local Chinese production. "Beijing Auto is an opportunity for us to establish ourselves in the Chinese market with their experience," the CEO said. Under current plans, Saab imports all cars to China, where they're sold under the Shanghai General Motors network. Sales have been slow, but promoting the brand under the watchful eye of BAIC may help the brand gain traction in China's huge automotive market.

[Source: Gasgoo]

REPORT: BAIC/Koenigsegg may produce Saab 9-5 in China originally appeared on Autoblog on Sat, 07 Nov 2009 14:26:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>9-5BAICBAIC SaabBaicSaabBeijing Automotive Industry Holding CoBeijingAutomotiveIndustryHoldingCoBejing AutoBejingAutoChinaInventoryJan-akeJonssonKoenigseggManufacturingPartnershipPrevious generationPreviousGenerationProductionSaabShanghai GM networkShanghaiGmNetworkSat, 07 Nov 2009 14:26:00 EST<![CDATA[VIDEO: 700-HP Saab 99 Quattro Turbo is like missing Koenigsegg ancestor]]>http://www.autoblog.com/2009/11/05/video-700-hp-saab-99-quattro-turbo-is-like-missing-koenigsegg-a/http://www.autoblog.com/2009/11/05/video-700-hp-saab-99-quattro-turbo-is-like-missing-koenigsegg-a/http://www.autoblog.com/2009/11/05/video-700-hp-saab-99-quattro-turbo-is-like-missing-koenigsegg-a/#commentsFiled under: , ,

700-hp 1969 Saab 99 Quattro Turbo - Click above to watch video

Sweden has just over nine million people - that's an entire country whose population is just a little bigger than New York City - and we'd believe it if someone told us they exclusively devoted their time to blessing the world with peculiar automotive concoctions. We'd file this latest one under "quirky," but it's far too powerful: a 1969 Saab 99 given the Audi Quattro treatment and a turbocharging to the tune of 700 horsepower. And then left to look rather stock.

The brainchild of a man named Gustav, it's development is recorded on Savar Turbo for those of you who speak Swedish (translated, if you don't). It runs sub-10-second quarter-miles with ease, which includes a few tenths lost for wheelspin and manually shifting gears. And we like it. We like it a lot. And we want whatever he's been drinking - we're guessing drums of aquavit. Follow the jump for videos of this stealthy Swede's quarter-mile runs and have a look at what's under the hood in the gallery of high-res images below.


Gallery: 700-HP Saab 99 Quattro Turbo


[Source: Savar Turbo via Car Throttle]

Continue reading VIDEO: 700-HP Saab 99 Quattro Turbo is like missing Koenigsegg ancestor

VIDEO: 700-HP Saab 99 Quattro Turbo is like missing Koenigsegg ancestor originally appeared on Autoblog on Thu, 05 Nov 2009 12:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>audi quattroAudiQuattrodrag cardrag racingDragCarDragRacingdragstereuropeKoenigseggquattrosaabsaab 99saab 99 turboSaab99Saab99TurbosleeperswedenvideoThu, 05 Nov 2009 12:20:00 EST<![CDATA[REPORT: Saab in "expansionist mood," plots own 9-3 replacement, new compact]]>http://www.autoblog.com/2009/11/04/report-saab-in-expansionist-mood-plots-own-9-3-replacement/http://www.autoblog.com/2009/11/04/report-saab-in-expansionist-mood-plots-own-9-3-replacement/http://www.autoblog.com/2009/11/04/report-saab-in-expansionist-mood-plots-own-9-3-replacement/#commentsFiled under: ,


Saab 9-X Air BioHybrid Concept - Click above for high-res image gallery

The talk has begun: last week the outlines of Koenigsegg's intent for Saab was publicized, now the sports car company is flapping their jibs to back it up. The 9-5 and 9-4X that GM developed will be arriving shortly, and behind those is the 9-5 SportCombi. The gem for Saab fans is the mention of a redesigned 9-3, and perhaps a 9-1 and 9-2.

That 9-3 might even make a return to the days of quirky, since it is "more unlikely than likely" that it will be built on a GM platform. In short, Koenigsegg wants to do a clean-sheet design, and that could mean restoring the aura of the Saab 900 to the brand's smallest car. That, a huge leap in feel and quality, and the ability to sustain a paucity of sales for a few years just might put a Swedish crown back on the old gal. However, we realize that is asking a lot...

But going beyond that, Koenigsegg's plan is that the 9-3 wouldn't remain the brand's smallest car for long. A 9-1 or 9-2 that takes inspiration from the 9-X Air BioHybrid Concept is being considered, which would finally give Saab an entrant in a segment where buyers have proved they are willing to pay a premium for well-done small cars. The test of Koenigsegg's ambition begins now.


Gallery: Saab 9-X Air BioHybrid Concept


[Source: Motor Trend]

REPORT: Saab in "expansionist mood," plots own 9-3 replacement, new compact originally appeared on Autoblog on Wed, 04 Nov 2009 08:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>koenigseggsaabSaab 9-1Xsaab 9-3Saab 9-3XSaab 9-4xsaab 9-5saab 9-5 sport combiSaab 9-5 SportCombiSaab 9-Xsaab 9-x air biohybridSaab9-1xSaab9-3Saab9-3xSaab9-4xSaab9-5Saab9-5SportCombiSaab9-xSaab9-xAirBiohybridWed, 04 Nov 2009 08:59:00 EST<![CDATA[Swedish report says Koenigsegg wants to sell fewer Saabs for more money]]>http://www.autoblog.com/2009/10/27/swedish-report-says-koenigsegg-wants-to-sell-fewer-saabs-for-mor/http://www.autoblog.com/2009/10/27/swedish-report-says-koenigsegg-wants-to-sell-fewer-saabs-for-mor/http://www.autoblog.com/2009/10/27/swedish-report-says-koenigsegg-wants-to-sell-fewer-saabs-for-mor/#commentsFiled under: , ,



Just because Koenigsegg is working to by Saab doesn't mean that the maker of million dollar coupes plans to spend time in the mass-market end of the buying pool. In fact, according to Swedish newspaper Dagens Industri, Koenigsegg wants to make more money selling fewer Saabs, which it can only do by taking Saab upmarket. And the numbers being reported indicate not just medium luxury, but top shelf, Cadillac Margarita luxury. Straight from the paper, this is allegedly Koenigsegg's ambitious three-step plan:

2010-2011: The current phase
- 115,000 cars sold gives zero in operating profit
- Average price per car: 189.000 SEK ($27,546 U.S.)

2012-2015: Transition
- 80,000 cars sold gives zero in operating profit
- Average Price per car: 208.000 SEK ($30,311 U.S.)
- New models including 9-5 Koenigsegg Edition

2016 - : premium
- 65,000 cars sold gives zero in operating profit
- Average Price per car: 280.000 SEK ($40,804 U.S.)
- New models include New 900

There's a bit of confusion over average prices mentioned. The current base price of a 9-3 in the U.S. is $30,360, and it wouldn't make sense to have the average price for the entire model line in the current phase be less than the base price of the cheapest car in the cheapest country, even at a higher volume. (The base Saab 9-3 starts at 301,990 SEK, which is $44,008 U.S.)

If the devotees at Saabs United have it right, a commenter in the original Swedish article who also claims to be a Saab dealer said the average prices are missing region-specific taxes, so they should be 55-60% higher. That would make the transaction price in the current phase about $43,000, and in the final, premium phase about $63,000 with a 55% markup.

While the numbers are fuzzy, what is pretty clear is that Saabs are going to cost a lot more in seven years if Christian K. gets his way. And they'll have to be, if he wants the company to break even on 65,000 cars sold annually, which would be a 27,000 unit decline from last year's (unprofitable) numbers. Saabs United also has a well reasoned look at the various sides, but still, for Saab lovers and watchers, this must all sound a bit crazy. But, hey... so is a Koenigsegg.

[Source: Dagens Industri via Saabs United]

Swedish report says Koenigsegg wants to sell fewer Saabs for more money originally appeared on Autoblog on Tue, 27 Oct 2009 10:20:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>koenigseggsaabTue, 27 Oct 2009 10:20:00 EST<![CDATA[REPORT: First step of Saab salvation complete, EIB to give €400m loan]]>http://www.autoblog.com/2009/10/21/report-first-step-of-saab-salvation-complete-eib-to-give-400m/http://www.autoblog.com/2009/10/21/report-first-step-of-saab-salvation-complete-eib-to-give-400m/http://www.autoblog.com/2009/10/21/report-first-step-of-saab-salvation-complete-eib-to-give-400m/#commentsFiled under: , , ,


2010 Saab 9-5 - Click above for high-res image gallery

Like Great Britain, Sweden never switched over to the Euro - they still deal in kroners. Therefor, In order to keep Saab afloat after being jettisoned by General Motors, new owner Koenigsegg Group has determined that it needs a loan of about 415 billion kroners to keep the flood waters back. That's about €400 million Euros, or $599 million good old US Ameripesos. A little while back we reported that the country of Sweden had agreed to guarantee any such loan to sinking Saab, should a bank offer to do so. Well guess what?

The European Investment Bank (EIB) has agreed to lend the €400 million to Koenigsegg Group vis-a-vis Saab. The money is supposedly earmarked for "research and development activities for the improvement of fuel efficiency and safety including new tooling for the production of cleaner and safer cars." At least that's according to EIB. However, there's a very good chance that the loan will be used to finish closing Koenigsegg's deal with GM. Either way, looks like Saab might now have a fighting chance at not sinking into the North Atlantic.


Gallery: 2010 Saab 9-5


[Source: Automotive News - Sub. Req'd | Saabs United]

REPORT: First step of Saab salvation complete, EIB to give €400m loan originally appeared on Autoblog on Wed, 21 Oct 2009 16:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>EIBEuropean Investment BankEuropeanInvestmentBankGeneral MotorsGeneralMotorsGMKoenigseggKoenigsegg GroupKoenigseggGroupSaabWed, 21 Oct 2009 16:40:00 EST<![CDATA[REPORT: Major obstacle cleared as Swedish government to guarantee $615M EIB loan for Saab]]>http://www.autoblog.com/2009/10/06/report-swedish-government-to-guarantee-615m-eib-loan-for-saab/http://www.autoblog.com/2009/10/06/report-swedish-government-to-guarantee-615m-eib-loan-for-saab/http://www.autoblog.com/2009/10/06/report-swedish-government-to-guarantee-615m-eib-loan-for-saab/#commentsFiled under: , ,


2010 Saab 9-5 - Click above for high-res image gallery

A major hurdle in Saab's transfer to the homegrown hands of Sweden's Koenigsegg has been surmounted: the Swedish government has agreed to guarantee a 4.3 billion kroner ($615M U.S.) loan from the European Investment Bank to the Koenigsegg consortium. That represents the final funding the maker of the CCX needs in order to compete the financing of the deal.

The next hurdle is for the European Investment Bank to consent to give Koenigsegg the money. A Swedish government representative said he hoped the EIB would decide before the end of the month. If that happens and things goes favorably, Koenigsegg may still get the deal done on its original timeline, the end of the year.


Gallery: 2010 Saab 9-5


[Source: Reuters]

REPORT: Major obstacle cleared as Swedish government to guarantee $615M EIB loan for Saab originally appeared on Autoblog on Tue, 06 Oct 2009 10:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>acquisitionacquisitionsbaiceibEuropean Investment BankEuropeanInvestmentBankfinancegovernmentkoenigseggkoenigsegg saabKoenigseggSaabsaabswedenTue, 06 Oct 2009 10:58:00 EST<![CDATA[Spy Shots: Koenigsegg to rebadge Saabs in its own image? Not so much]]>http://www.autoblog.com/2009/10/06/spy-shots-koenigsegg-to-rebadge-saabs-in-its-own-image-not-so/http://www.autoblog.com/2009/10/06/spy-shots-koenigsegg-to-rebadge-saabs-in-its-own-image-not-so/http://www.autoblog.com/2009/10/06/spy-shots-koenigsegg-to-rebadge-saabs-in-its-own-image-not-so/#commentsFiled under: , , ,



How much does it take to turn a Saab into a Koenigsegg? The half-billion dollars in funding the niche automaker is locking down to acquire the erstwhile General Motors subsidiary? The million euros one of its supercars sells for? How about 116 kronor? That amounts to about $16.50, and it's how much one local motorist has paid to slap the Koenigsegg name on his Saab 9-5 SportCombi wagon in an apparent jab at Swedish domestic auto industry.

The photo has got enthusiasts in Scandinavia jabbering over Koenigsegg's "secret plans" for Saab, as if the exotic automaker was planning to scrap its new acquisition and assimilate its products under its own name. While Saab might not rank as high among Swedish brand names, as, say, Ikea, it does have a little higher level of brand recognition than Koenigsegg. Thus, tossing the Saab name in the plastic, assemble-it-yourself trash bin would make about as much sense as a supercar garage buying a family sedan factory from one of the world's largest auto conglomerates. Oh, wait a second....

[Source: Vi Bilägare]

Spy Shots: Koenigsegg to rebadge Saabs in its own image? Not so much originally appeared on Autoblog on Tue, 06 Oct 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>koenigseggkoenigsegg light powerkoenigsegg saabKoenigseggLightPowerKoenigseggSaabsaabsaab 9-5saab 9-5 sport combisaab 95saab 95 sport combisaab koenigseggSaab9-5Saab9-5SportCombiSaab95Saab95SportCombiSaabKoenigseggTue, 06 Oct 2009 09:00:00 EST<![CDATA[Limited-edition CCXR Trevita to shine like a diamond. Well, millions of them, actually.]]>http://www.autoblog.com/2009/09/11/limited-edition-ccxr-trevita-to-shine-like-a-diamond-well-mill/http://www.autoblog.com/2009/09/11/limited-edition-ccxr-trevita-to-shine-like-a-diamond-well-mill/http://www.autoblog.com/2009/09/11/limited-edition-ccxr-trevita-to-shine-like-a-diamond-well-mill/#commentsFiled under: , ,


Koenigsegg CCXR Trevita - Click above for high-res image gallery

With much of the recent news regarding Koenigsegg being about their acquisition of Saab, you might have forgotten that the Swedish auto manufacturer builds supercars. Well, probably not, but it was refreshing to see Koenigsegg throw a changeup and release details of their latest special edition model, the Trevita.

Based on the CCXR model, the limited-edition supercar appears to have a simple silver paint job from a distance, but a closer look reveals a bare carbon fiber body coated with a unique diamond finish put directly into the weave using a process specially developed by Koenigsegg. According to the company, use of the "Koenigsegg Proprietary Diamond Weave" (catchy, eh?) means that "When sunlight hits the car, it sparkles like millions of silvery white diamonds infused inside the visible carbon fiber weave bodywork."

Along with diamond weave finish, the Trevita, which evidently means "three whites" in Swedish, features a double carbon wing, paddle shifters, an upgraded exhaust system, carbon ceramic brakes, an infotainment system, and more. There's no word on pricing, but just three will be produced and we're guessing that they will demand a hefty premium over the "standard" CCXR.

No official word yet on whether the Trevita will roll out at next week's Frankfurt show, but we'll have our SLRs at the ready just in case. For now, though, you'll have to content yourself with the high-res gallery below.


Gallery: Koenigsegg CCXR Trevita


[Source: Koenigsegg via GTSpirit.com]

Continue reading Limited-edition CCXR Trevita to shine like a diamond. Well, millions of them, actually.

Limited-edition CCXR Trevita to shine like a diamond. Well, millions of them, actually. originally appeared on Autoblog on Fri, 11 Sep 2009 11:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>carbon fiberCarbonFiberKoenigseggKoenigsegg CCXKoenigsegg CCXRKoenigsegg CCXR TrevitaKoenigsegg TrevitaKoenigseggCcxKoenigseggCcxrKoenigseggCcxrTrevitaKoenigseggTrevitaFri, 11 Sep 2009 11:28:00 EST<![CDATA[REPORT: China's Beijing Automotive takes minority stake in Saab]]>http://www.autoblog.com/2009/09/09/report-chinas-beijing-automotive-takes-a-minority-stake-in-saa/http://www.autoblog.com/2009/09/09/report-chinas-beijing-automotive-takes-a-minority-stake-in-saa/http://www.autoblog.com/2009/09/09/report-chinas-beijing-automotive-takes-a-minority-stake-in-saa/#commentsFiled under: , ,

2010 Saab 9-5 - Click above for a high-res image gallery

It had been reported that SAIC had quietly taken a stake in Saab in conjunction with the Koenigsegg Group. However, it's been confirmed that Beijing Automotive -- which also recently made a play for Opel -- has grabbed a share of the Trollhätten pie.

BAIC provided the $400 million difference in cost that Koenigsegg needed to complete the sale and the final financial hurdle is for the Swedish government to guarantee a $600 million loan from the European Investment Bank to Koenigsegg.

Those kinds of numbers mean that Saab will be more expensive than Aston Martin, which might sound a little odd -- especially for a company that sold just 93,000 cars last year. But the tie to BAIC -- and Russia, Augie Fabela, a cell-phone company magnate -- could open up two enormous markets that will give Saab access to market numbers that could justify its purchase price and existence. Full press release from Koenigsegg after the jump.


Gallery: 2010 Saab 9-5


[Source: Koenigsegg]

Continue reading REPORT: China's Beijing Automotive takes minority stake in Saab

REPORT: China's Beijing Automotive takes minority stake in Saab originally appeared on Autoblog on Wed, 09 Sep 2009 13:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>baicbeijing automotiveBeijingAutomotivechinaeuropekoenigseggsaabswedenWed, 09 Sep 2009 13:28:00 EST<![CDATA[REPORT: Saab deal between GM and Koenigsegg finalized]]>http://www.autoblog.com/2009/08/18/report-saab-deal-between-gm-and-koenigsegg-finalized/http://www.autoblog.com/2009/08/18/report-saab-deal-between-gm-and-koenigsegg-finalized/http://www.autoblog.com/2009/08/18/report-saab-deal-between-gm-and-koenigsegg-finalized/#commentsFiled under: , , , , ,


2010 Saab 9-5 - Click above for high-res image gallery

The deal has been signed, but the cash still hasn't changed hands. In a nutshell, that's where the share transfer agreement between GM and Swedish manufacturer Koenigsegg sits. Those close to the deal say the two companies have agreed on a very low price for Saab, but the exact figures are still undisclosed.

One towering hurdle in front of the deal is financing - the consortium, led by Koenigsegg Group, has yet to completely lock down funding as it is waiting on a hefty 4.3 billion kronor (about $593 million) loan from the European Investment Bank. The money won't be cleared unless the Swedish government secures it. Needless to say, there are countless other smaller hurdles (including word of investors backing out) that need to be knocked over before the deal is sealed. As of now, GM expects Saab to exit bankruptcy reorganization "shortly" and will share technology and services with Koenigsegg for a "defined time period" that has yet to be disclosed but should last at least a generation cycle as a number of new models that were developed by GM, including a redesigned 9-5 (above), are just about to launch.


Gallery: 2010 Saab 9-5 Leaked Again


[Source: Swedish Wire, General Motors]

Continue reading REPORT: Saab deal between GM and Koenigsegg finalized

REPORT: Saab deal between GM and Koenigsegg finalized originally appeared on Autoblog on Tue, 18 Aug 2009 09:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bankruptcyDealForced saleForcedSaleGeneral MotorsGeneralMotorsKoenigseggSaabSaleSwedenTue, 18 Aug 2009 09:29:00 EST<![CDATA[Koenigsegg's bid for Saab in trouble?]]>http://www.autoblog.com/2009/08/10/koenigseggs-bid-for-saab-in-trouble/http://www.autoblog.com/2009/08/10/koenigseggs-bid-for-saab-in-trouble/http://www.autoblog.com/2009/08/10/koenigseggs-bid-for-saab-in-trouble/#commentsFiled under: , , ,

Koenigsegg CCX meets Saab Aero X concept - Click above for high-res image gallery

Reports from Sweden indicate there may be a rough road ahead for Koenigsegg as the niche supercar maker works to complete its deal to purchase bankrupt automaker Saab. Last Friday, Swedish newspaper Goteborgs-Posten reported that one key investor was considering pulling out of the deal. Later, Joran Hagglund, state secretary for Sweden's industry ministry, confirmed his office had heard these rumors and was "chasing" Koenigsegg for an update.

It would seem that Koenigsegg, Saab and the Swedish government are now in full damage-control-mode. Halldora von Koenigsegg, the company's spokesperson and wife of founder Christian von Koenigsegg, said in response to the rumors, "Ownership questions are detailed information that I don't have the possibility to comment on today. What I can say is that our negotiations with GM are proceeding according to plan."

Saab spokeswoman Gunilla Gustavs echoed that statement, saying, "Everything's proceeding, we're still looking to be done by the end of the third quarter." Much ado about nothing or a sign of trouble ahead?


Gallery: Koenigegg, Meet Saab. Saab, Meet Koenigsegg


[Source: Wall Street Journal - Sub. Req'd]

Koenigsegg's bid for Saab in trouble? originally appeared on Autoblog on Mon, 10 Aug 2009 14:31:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>koenigseggkoenigsegg saabKoenigseggSaabsaabsaab koenigseggSaabKoenigseggswedenMon, 10 Aug 2009 14:31:00 EST<![CDATA[Charting out Saab's upcoming model lineup]]>http://www.autoblog.com/2009/08/01/charting-out-saabs-coming-model-lineup/http://www.autoblog.com/2009/08/01/charting-out-saabs-coming-model-lineup/http://www.autoblog.com/2009/08/01/charting-out-saabs-coming-model-lineup/#commentsFiled under: , , , ,



There are many folks who've wanted big things from Saab, including this blogger, but we never seemed to get them. The company sold 93,220 cars in 2008, a drop of more than 25% from the previous year, and getting sucked into this year's General Motors saga hasn't exactly helped to create any believers in Saab's return to form.

But the quirkier Swedish brand has been taken over by Koenigsegg, and the little company is said to have big plans for the bigger one. Saab's product lineup, as laid out by Swedish car mag Auto Motor & Sport, will have the expected new 9-5 and 9-4 CUV at Frankfurt this year. Next year comes the new 9-5 SportCombi with Start/Stop technology. The two following years will bring the new 9-3 coupe and convertible, a 9-5 crossover, and a little 9-1 -- rumored to be co-produced with the Mini, sccording to the Swedish buff mag. In 2012, the magazine also predicts a sport hybrid powerplant.

The predictions go all the way out to 2017, but it isn't clear how much is pure guesswork versus actual hints from Saab. The magazine, however, suggests there will be some sort of shortened, Aero X coupe-looking thing, a return of the Sonett as a TT-fighter, and the next new 9-5 in 2017.

At this point, no one knows what Saab is going to look like a year from now, much less eight. But if Koenigsegg can make it look anything like it does in the Auto Motor & Sport chart - and get the sales to back it up - a lot of people will be very happy about it.

[Source: Saabs United]

Charting out Saab's upcoming model lineup originally appeared on Autoblog on Sat, 01 Aug 2009 09:07:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>convertiblecoupekoenigseggluxurysaabsaab 9-1saab 9-3saab 9-4xsaab 9-5Saab9-1Saab9-3Saab9-4xSaab9-5Sat, 01 Aug 2009 09:07:00 EST<![CDATA[Koenigsegg: We'll give Saab back its "soul"]]>http://www.autoblog.com/2009/06/18/koenigsegg-well-give-saab-back-its-soul/http://www.autoblog.com/2009/06/18/koenigsegg-well-give-saab-back-its-soul/http://www.autoblog.com/2009/06/18/koenigsegg-well-give-saab-back-its-soul/#commentsFiled under: ,



Koenigsegg is one of the most elite exotic car builders on earth. In a good year, the ultra high-end automaker produces a few dozen of its million dollar masterpieces. It's the limited nature of Koenigsegg that makes its purchase of the much larger Saab a real head-scratcher, but that isn't stopping the company's founder from aiming for the stars. Norwiegen designer and Koenigsegg controlling owner Baard Ecker tells Automotive News that he intends to revive the "soul and spirit" of Saab, while also sparking some creativity in the sagging auto industry. Tall order, that is.

Koenigsegg's offer for Saab includes the financial backing of the Swedish government, along with investors in the U.S. and Norway. Ecker also wants to improve Saab's quality and incorporate a regard for the environment in future product planning. As for his role once Saab is acquired, Ecker maintains that it's not his intention to micro-manage the brand, which already has a management team in place. From the sound of things, Saab appears to have a much brighter future than many fans of the Swedish brand could have hoped for just a few weeks ago.

[Source: Automotive News, sub. req'd]

Koenigsegg: We'll give Saab back its "soul" originally appeared on Autoblog on Thu, 18 Jun 2009 16:33:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>baard eckerBaardEckerkoenigseeg saabKoenigseegSaabkoenigseggsaabsaab soulSaabSoulThu, 18 Jun 2009 16:33:00 EST